Companies

US chain Preferred Hotels scouts for more properties in India

V Rishi Kumar Hyderabad | Updated on January 16, 2018 Published on October 07, 2016

Adds eight properties to its portfolio this year



Preferred Hotels & Resorts, a leading independent hotel brand, is scouting for more properties in India as it seeks to expand its presence.

The Chicago (US)-based chain, which operates with a model of engaging its expertise and linking its chain to independent hotels, has added eight properties to its fold in India during the year taking the number to over 30.

Arpit Pant, Regional Director, South Asia and Middle East, said the opportunity to engage with independent hotel projects is huge not only in major metros, but also tier II and III cities, as they get access to business opportunities through the network.

“Being well entrenched locally is the strong point of independent hospitality projects, and we bring global linkages to them. A number of properties, which were associated with popular global brands have lately decided to function on their own. This presents new opportunities for us,” he said.

During an exclusive interaction with BusinessLine, Arpit Pant said: “The Group was engaged with Avasa and Ella hotel projects in Hyderabad and a chain of 11 Fortune Hotels of the ITC. We expect this number to go up as the geopolitical situation stabilises.”

“We are also seeking to expand the Preferred Residence brand that offers transient travellers luxury of serviced residences that are connected to existing properties within the Preferred Hotels Portfolio. We are also exploring other business opportunities as some of the major real estate companies are looking to offer similar properties,” he said. The 48-year-old hospitality company is also developing a network in Sri Lanka, Maldives and West Asia. This year 30 new hotels joined us globally, of which eight have come on board in India, he said.

The hotel property owners have the choice to go the management contract way or develop their own brand. Since promoters understand local environment and business well, many of them prefer the second option. And those who opt for the latter, they look to engage with someone like Preferred Hotels, as they get global access and also potential clientèle through the loyalty programme network, he said.

Published on October 07, 2016
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